Hengrui Pharmaceuticals licenses Riconan trastuzumab project to Glenmark Specialty

Jiangsu Hengrui Medicine announced a licensing agreement with Glenmark Specialty S.A. for its Class 1 innovative drug, Riconan trastuzumab (SHR-A1811). This agreement grants Glenmark Specialty exclusive rights for development and commercialization in global markets, excluding mainland China, Hong Kong, Macau, Taiwan, the USA, Canada, Europe, Japan, Russia, and several other Central Asian and Middle Eastern countries. Hengrui will receive an upfront payment of $18 million and is eligible for up to $1.093 billion in registration and sales-related milestone payments, plus sales royalties.

Riconan trastuzumab, an HER2-targeted antibody-drug conjugate (ADC), received marketing approval in China in May 2025 for HER2-mutated non-small cell lung cancer (NSCLC) and has multiple ongoing clinical trials. In August 2025, it received orphan drug designation from the FDA for gastric cancer or gastroesophageal junction adenocarcinoma. As of September 2025, nine indications, including breast cancer, gastric cancer, and colorectal cancer, have been granted breakthrough therapy designation by China's NMPA.

In a related disclosure on September 24, 2025, Jiangsu Hengrui Medicine also reported a share repurchase of 140,000 A-shares on the Shanghai Stock Exchange. The total amount paid was RMB 9,725,200, with an average repurchase price between RMB 69.3 and RMB 69.6 per share. This repurchase impacted the company’s issued shares (excluding treasury shares), with a 0.002% change relative to the shares outstanding prior to the event.